Capturing Enterprise Tech Market Share Through Effective Brand Positioning
As a startup or entrenched enterprise tech firm, how will you establish your firm’s brand as the leader in the marketplace? What strategies will you implement to improve credibility, establish expertise, build market share, and command the highest prices or volume of sales?
The key to accomplishing revenue objectives and creating a lasting long-term public relations image is Brand Positioning. Here we’ll provide an overview of the positioning concept and how it can be used to your enterprise technology firm’s advantage. When you couple effective brand positioning with a product and service tailored to the need of a specific subset of business prospects, the stage will be set for rapid growth and stability of demand.
Positioning is equally vital and effective to enterprise solution firms in any niche, including IoT, contract management, CRM, artificial intelligence, low code development, project management, supply chain, security, control systems, automation, blockchain, and cryptocurrency. These strategies are crucial in supporting the viability and capacity of IPOs and ICOs to capitalize new enterprise technology ventures.
What is Brand Positioning?
How do customers perceive the solutions that your firm offers? Do they see it as the most advanced solution to an overwhelming need in the marketplace? Does it provide a long-awaited answer to a industry issue that has been limiting productivity, efficiency, and profitability for growth-minded enterprises?
Positioning is the development and implementation of strategies that form an impression in the mind of your ideal prospects. It involves developing a public relations strategy that offers messages and information that resonates with the needs and expectations of the target market. When your message is closely aligned with consumer desires, it fosters and sense of credibility and trust with prospects.
An effective brand positioning and public relations strategy is a differentiating factor that yields a distinct competitive advantage that supplements the unique value proposition of the firm. Excellent client benefits and value alone, if not presented in a way that builds rapport, will have little effect on closed contracts and potential revenue growth.
Deciding How to Lead in the Enterprise Tech Market
How do you want your firm to be recognized? Will you lead on price, innovation, or convenience? This is a critical decision that will have a lasting impact on your enterprise tech brand position and ability to compete in the rapidly evolving marketplace. A leadership strategy should be formulated using the firm’s strategic objectives and by considering the core competencies of the organization.
If your strength lies in engineering the most advanced technology, a common differentiator in the tech field, your positioning message should be centered on this advantage to improve authenticity and the capacity to realistically deliver on the service promise. Inversely, a firm that possesses innovative implementation strategies for existing technologies may focus on a message of value and convenience in enhancing established workflows.
Developing a Positioning Statement
To clearly articulate your positioning strategy and provide internal focus, it’s a valuable exercise to develop a brand positioning statement. The positioning statement identifies the target market, defines the industry and niche, expresses the brand promise (also known as unique value proposition) and expresses its advantage relative to the competition. A well written statement provides the basis and strategic direction for implementing an effective PR strategy.
An example positioning statement for a low code startup could be as follows:
For firms seeking to create functional and consumer-interaction-stimulating mobile apps, MiniCode Solutions offers the most convenient and lowest expense solutions in the low code market. Whereas competitors have excessive fee structures and minimal customer service, MiniCode offers an inexpensive alternative that enhances development workflows, and provides comprehensive and timely support.
Connecting with and Influencing Your Market
Numerous strategies are appropriate to establish your brand presence and authority. Traditional methods such as print, radio, television, and direct mail are still effective; however, the cost and excessive time required can be prohibitive for startup firms and those struggling to raise seed capital and bring new innovations to market before the early adoption period passes. The advent and popularity of digital public relations mediums offers expedient and inexpensive distribution channels to reach target business consumers.
Digital mediums are conducive to reception by tech savvy prospects that rely on a constant flow of readily accessible data that is formatted to modern expectations. Social media, professional networking, and information sharing channels offer tremendous opportunities to promptly reach ideal prospects with messages that inspire confidence and provide the user with the interaction and background data needed to drive the conversion process.
A strategy of import to effective positioning strategies is thought leadership (TL). TL is a strategy that focuses on creating an image of expertise and leadership in the field by providing the professional or consumer community with the answers to the most prevalent questions on the public’s collective mind. The value generated through direct interactions with prospects is universally appreciated, respected, and contributes to enhanced social capital. TL supports the brand and builds the trust and rapport that is requisite to productive business relationships.
Implementing a Positioning Strategy
Assembling an effective positioning and PR strategy should not require months of research and planning. A focused effort can bring the plan together in a matter of weeks, with additional available time and research being allocated to the plan’s continued refinement. To hasten the process and ensure that the positioning strategy is property targeted, tailored to the expectations of prospects, and utilizes the most appropriate distribution channels, work with public relations marketing strategists with experience and expertise in supporting the growth of existing and developing enterprise technology firms.